ENDW vs GHTA

ENDWACambria Endowment Style ETF

GHTADGoose Hollow Tactical Allocation ETF

In short

ENDW The endowment playbook in one ticker: global stocks, bonds and real assets, actively steered by Cambria, with built-in leverage, for 0.22% a year. Endowment ambition without the endowment fee schedule.

GHTA A boutique macro shop's one-ticker answer to 60/40: GHTA actively shuffles global stock and bond ETFs as the business cycle turns, and measures itself against a plain 60% MSCI World / 40% Bloomberg U.S. Aggregate blend.

Stated mandate

ENDW ENDW seeks income and capital appreciation. It is actively managed to provide exposure to multiple major asset classes through underlying ETFs or individual equities.

GHTA The Fund seeks total return. It uses an actively managed tactical, go-anywhere approach across a wide variety of asset classes, including individual equities and ETFs, with exposure determined by market capitalization and/or industry classification.

Why people hold it

• ENDW 0.22% a year against a roughly 0.95% median for tactical allocation funds, and cheaper than the other standouts in the group such as ONOF (0.39%) and GMOD (0.50%).
• One ticker spans US, developed and emerging markets across equities, bonds and real assets, roughly 70 positions, with value and momentum screens applied on top.cambriafunds.com
• Capital efficient by design: the manager expects notional exposure of 100% to 150% of assets, using Treasury futures alongside the underlying ETF sleeves.usnews.combusinesswire.com
• Pays income quarterly, and on our review it sits among the strongest implementations in the tactical allocation group.

• GHTA Go-anywhere by design. One ticker buys an actively managed mix across asset classes and geographies instead of a fixed stock-bond split.gham.co
• Honest yardstick: the fund names a 60% MSCI World / 40% Bloomberg U.S. Aggregate blend as its reference, so the manager's calls are judged against a simple mix anyone can replicate.
• Built on ETFs, not a black box. The portfolio holds equity and fixed income funds, and the adviser runs a macro and business-cycle framework it has applied since the 2021 launch.gham.cogham.co 2

Worth knowing

• ENDW It owns other ETFs, which charge their own fees on top of the 0.22% management fee, so the all-in cost of ownership runs higher than the headline.cambriafunds.com
• Leverage works both ways. Notional exposure above 100% of assets magnifies moves in either direction, and Cambria itself calls the risk profile aggressive.businesswire.com
• Launched in 2025 and still modest in size, so the record is short and shares change hands less often than mainstream index funds.

• GHTA Cost is the sticking point: 1.77% net of a waiver through January 31, 2027 (1.84% gross), above the median of its 46-fund tactical group. ENDW charges 0.22%; GMOD 0.50% net of a waiver through June 30, 2027.
• Small and lightly traded, so bid-ask spreads can be wider than on household-name allocation funds, and size moves with flows.
• Everything rides on the manager's timing, not an index rulebook, and cash comes back once or twice a year rather than monthly.gham.co

Full ENDW profile⁠

Full GHTA profile⁠